PUBG publisher Krafton acquired Tango Gameworks, the studio responsible for the rhythm-based action game Hi-Fi Rush, with plans to revive the IP following its closure by Microsoft earlier this year.
The Japanese game studio will finally be able to continue its endeavors after the acquisition deal on Aug. 12, 2024. Krafton is also planning something for the Hi-Fi Rush IP in the near future that many fans are excited about.
Krafton Acquires Tango Gameworks
Tango Gameworks was founded by Resident Evil director Shinji Mikami in 2010 and was quickly acquired by ZeniMax Media.
The latter is the owner of Bethesda Softworks and since that deal, the studio developed The Evil Within franchise, Ghostwire: Tokyo, and Hi-Fi Rush.
When the studio was then announced to be shut down in May 2024, Xbox executive Matt Booty called it a "forward-thinking decision." He also hinted that it had something to do with the studio remaining without a leader, according to Automaton Media.
However, fans and developers worldwide were not convinced of the reasons that were given out to the public. They also criticize Microsoft for unfairly "killing" a prospective studio for whatever reasons it had.
But two months after the studio's closure, PUBG publisher Krafton stepped in and brought hope for people in the video games industry.
It seems that Microsoft also cooperated in the acquisition deal and also committed to supporting staff in resuming their work at the new company.
Microsoft's decision to shut down Tango Gameworks came despite Hi-Fi Rush's rise to critical acclaim where it said that it wanted to focus more on "high-impact titles."
At the time, it also announced the closures for Redfall developer Arkane Austin, Mighty Doom studio Alpha Dog, and Roundhouse Games, said GamesIndustry.
Krafton recently said that its acquisition of the Japanese game studio will have no impact on the availability of Tango Gameworks' previous releases. It added that these titles will remain available where they are right now.
Reviving the Hi-Fi Rush IP
In a statement, the PUBG publisher noted that the integration simply reinforces its dedication to expanding its global footprint and enhancing its portfolio with innovative and high-quality content. The studio said that Tango Gameworks' addition represents a "strategic alignment with Krafton's mission."
The PUBG publisher is a South Korean studio that is also known for TERA and The Callisto Protocol games. Its portfolio includes Bluehole, PUBG Studios, Striking Distance, Neon Giant, and many others.
Krafton's announcement of acquiring Tango Gameworks also comes a few days after former developers from Arkane Austin announced a new first-person action RPG at its Wolfeye Studio, according to Polygon.
